China added three new pilot free trade zones
Due to the negative impact of the COVID-19 pandemic, in H1 2020, China’s nationwide GDP shrank by 1.6% y/y
On Sep 21, China’s State Council announced plans for three new pilot free trade zones (FTZs) which are located in the capital Beijing, the southern province of Hunan, and the eastern province of Anhui, bringing the total number of FTZs in China to 21.
Due to the negative impact of the COVID-19 pandemic, in H1 2020, China’s nationwide GDP shrank by 1.6% y/y. Beijing’s GDP performance was even worse, declining by 3.2% y/y, ytd. Both Hunan and Anhui, however, posted a positive GDP change in H1 2020, growing by 1.3% and 0.7% y/y, respectively.
Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q3 2020 report.